China’s Evergrande chairman seeks to reassure investors
China Evergrande’s chairman said that they will make it a top priority to help wealth investors to redeem their products. This is as the investors await a key deadline for a dollar-bond coupon payment. Hui Ka Yan said that the company was striving to ensure quality delivery of properties. He insisted on the importance to […]
Bank of England expected to keep rates steady
Britain’s central bank looks set to keep interest rates steady. This is because, it approaches the end-point of its 895-billion-pound asset purchase program. They are casting a wary eye over surging inflation pressures. Investors will be keen to see if more Monetary Policy Committee (MPC) members join external member Michael Saunders. The BoE is ahead […]
Market impact from Evergrande debt woes
HSBC Holdings PLC CEO says that they are expecting the debt problems involving embattled property developer China Evergrande Group to have an impact on capital markets. But there is no direct impact on the bank seen by them. Noel Quinn said at a Bank of America conference that he would be naive to think that […]
China’s pledge to cut project finance is the new normal for coal
Australia and Indonesia are the world’s biggest coal exporters. They are now facing an accelerated decline in the global demand for their coal shipments. This is after China said that they would stop building coal-fired power plants overseas. Chinese President Xi Jinping announced their new move at the United Nations General Assembly. This has prompted […]
UK inflation expectations shows a record jump
The British public’s expectations for inflation have shot up in this year. Citi claimed that this is by a record amount raising the risk that the Bank of England will send a hawkish message soon. The Citi/YouGov monthly inflation expectations survey showed that public inflation expectations for the next year has jumped to 4.1% in […]
Zero net emission by 2025, aims British export finance agency
Britain’s export credit agency said that they aim to achieve net zero carbon emissions across its investments by 2050. This is by increasing its support for green exports. UK Export Finance‘s (UKEF) move is following after a commitment in April. This UKEF fund is to end support for fossil fuel projects overseas. This is also ahead […]
In NFT fantasy soccer game, SoftBank leads funding
Blockchain-based fantasy soccer game Sorare has raised $680 million. This is through a funding round, which is led by SoftBank. According to the company, it includes players such as ex-England international Rio Ferdinand and Spain’s Gerard Pique. Paris-based Sorare said that the investment valued the company at $4.3 billion. Sorare is an online game, since […]
Higher taxes are coming
Taxes in the world’s wealthiest countries are rising. In this unprecedented COVID-era debt surge and according to some investors, even a good thing if it helps close the wealth gaps the pandemic has exacerbated. Tax rises got the headlines recently. This is when Britain GDP, upped taxes on workers and employers, which is around 12 […]
IMF board gets initial briefing on Georgieva role in China
The International Monetary Fund said that its executive board met and discussed a report prepared for the World Bank. It also alleged that IMF chief Kristalina Georgieva, while she was the CEO pressured staff to alter data to favor China. To discuss further the board will meet again. A spokesperson said that the Board discussed the Ethics […]
Deutsche Bank snapped by Credit Suisse
According to a memo, the Credit Suisse has poached Deutsche Bank‘s Israel Fernandez to lead its financial institutions group (FIG) in Europe, the Middle East and Africa in tandem with Julien Lamm. Fernandez on Nov. 15 is taking his new role. Just like his predecessor Armando Rubio-Alvarez, he will be based in Madrid. He is a […]